TITLE

Business & Financial

AUTHOR(S)
Reichard, Robert S.
PUB. DATE
February 2005
SOURCE
Textile World;Feb2005, Vol. 155 Issue 2, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Editorial
ABSTRACT
This article reports that the first month of a quota-free textile world in the U.S. has passed without any major domestic erosion. According to the Institute for Supply Management, textile orders and production actually were up a bit over the last reported month. Some impact on textile and apparel trade and domestic mill activity is inevitable over the longer pull. But the way things seem to be shaping up, such changes should come slowly and gradually--buying time for U.S. producers and distributors to adjust and maybe even prosper in this new global textile economy. Wilbur L. Ross, chairman of the Greensboro, North Carolina-based International Textile Group (ITG), of which the Burlington House business is a part, would seem to concur, noting his U.S. plants are still profitable and he has no present plans to close any. Ross is taking advantage of the new trade ground rules by announcing a joint venture in China to make and distribute sheets and other home textiles. ITG's partner, China Ting Group, will sell the goods in 25 Burlington House retail stores in China.
ACCESSION #
16121422

 

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